This paper calculates an implied cost of equity for 19 developed countries from 1991 to 2006. During this period, there … has been a decline in the cost of equity of about 10-15 bps per year, which can be partially attributed to declining … related to the cost of equity. If this variable captures differences in disclosure across firms, then improvements in …

The objective of this paper was to analyze the effect of competition over better information on the cost of equity … indicated, on average, that the competition over better information is capable of reducing the cost of equity capital, and that …